New York, NY Resolution Real Estate Partners LLC, a member of NAI Global, has arranged the sale of a partially occupied 8,356 s/f, second floor retail condominium space at 250 East 49th St. for $5.547 million. Representing the owner, Luvinlil Realty Associates, were Resolution’s Jonata Dayan, executive director commercial condo/co-op sales, and Brett Weiss, director. The offering was conducted on the Ten-X auction platform and the purchaser, East 49th Street Associates, LLC, was the highest bidder.
“This was a challenging sale on multiple levels, not the least because an existing, long-term tenant occupies a substantial portion of the overall footprint,” said Dayan. “Working with the Ten-X platform turned out to be an excellent solution that benefited both parties. Although the property sold quickly and exceeded the reserve sales price, it was slightly below the average market rate.”
In addition to overseeing the sale, Dayan and Weiss are responsible for leasing the vacant portion of the condominium space, with an entrance at 919 Second Ave. A dental clinic currently occupies 3,158 s/f of the space.
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